Al Ansari Financial Services Announces IPO Subscription Period and Price Range

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Al Ansari Financial Services, a Dubai-based integrated financial services group, has commenced its initial
public offering (IPO) subscription period and announced the offer price range per share. The global offering will
be between Dhs1-1.03 per share, resulting in a market capitalisation of Dhs7.50bn ($2.04bn) to Dhs7.73bn
($2.10bn) upon listing. The IPO will offer 750 million shares, equivalent to 10% of the group’s issued share
capital, with all shares being existing shares sold by Al Ansari Holding. The group will not receive any proceeds
from the global offering. The selling shareholder will continue to hold a 90% stake after the offering, subject to
the applicable laws of the UAE and the approval of the Securities and Commodities Authority (SCA).
The IPO subscription period will run until March 23 for the UAE retail offering and March 24 for the qualified
investor offering. The final offer price will be determined through a book-building process, with the completion
of the offering and admission expected on April 6, subject to market conditions and relevant regulatory
approvals. ADCB, EFG-Hermes, and ENBD Capital have been appointed as joint global coordinators, while
Emirates NBD has been appointed as the lead receiving bank. National Bonds has committed Dhs200m to the
IPO as part of a cornerstone investment agreement. The global offering is also compliant with Shariah
principles, according to the Internal Sharia Supervision Committees of Emirates NBD and ADCB.